/biz/ - Business & Finance

>>30049262
>We're going to go back to transporting gold and silver physically again?

Somebody has never heard of Kinesis Money.

>It *is* the new financial industry. Gold and silver are just stupid metals that are difficult to transport.

Actually it's ludicrously simple to go back to a gold standard; Russia simply says "We're now backing our currency at a 10:1 ratio redeemable for gold" (they can already do that, see data from Santiago Capital) and that's that, the modern banking system carries on as perfectly efficiently as it ever did.

>>29772291

Russia now owns more gold than dollars (so much so that they can back their currency 10:1, see data from Santiago Capital) and China is thought to have hoarded away 20,000 tons of it, obviously they think gold does matter.

>>29171035

>it was 6 days...6 days ago. At least edit your pasta
I put quotation marks around it so as to make it clear that it's not something which I'm actively revising.

>dollars. 80-90% of international trades are settled using $.

Russia now owns more gold than dollars and is able to back its currency at a 10:1 ratio with gold (see the data here from Santiago Capital). China is estimated to have even more gold than Russia, 20,000 tons. All the Asian nations are adopting gold and dumping dollars. We also read not too long ago, "Dollar Loses to Euro as Payment Currency for First Time in Years."

>institutions have their ways to keep the price from skyrocketing.

It's not compromised institutions standing for delivery, it's real people who want the silver. If retail is paying $40 an ounce why wouldn't you get silver from the COMEX for $27 and then pocket the difference. It's not hard to take delivery at the COMEX, anybody can do it if you have about $130,000 dollars, you simply open a commodities trading account and then pick up the silver bars at a New York warehouse.

>How come I can still buy it online?

Where I live, the U. K., the biggest dealers are completely sold out. Look at BullionByPost, literally picked clean of silver. Dealers which still have stock in the U. S. are selling silver for, what, $33-$40.

>I bought Silver in '08 on the predication of a huge spike because of JP Morgan's short position and lack of supply. Now its different..

As I say, it really is different this time. Yields in 2008 were 5% nominally, the banks had a lot of ammunition left in the form of Q. E. to keep the system going, but that's done now. We have negative real yields, and even 2% nominal yields will crash the market; there's a debt trap, it's over.

>I recall that as recently as Sept 2020, the COMEX was supposed to break.

If it came close to breaking in Sep. 2020 when there wasn't a mass movement, what do you think is going to happen soon now that there is?

>>26204348

>But aren't there third party players/countries that do no participate in the scheme?

Everybody knows what is going on. It's a suppression-game for America, a buying-opportunity for everybody else. China has secretly accumulated 40,000 tons of gold, and Russia now has enough gold to back its currency 10:1 with gold (see picture). We recently learned that Russia now has more gold than dollars (https://www.bloombergquint.com/global-economics/russia-s-583-billion-reserves-now-hold-more-gold-than-dollars).).

>>26206371

He asked for one company which is why I didn't give him any one-mine producers. But most of the value of BLLG is in the resources in the ground and in the permits. I also could have said DV. No risk of a mine flooding there, all they have is excellent financials, excellent reserves and an excellent historic ground.

>>26164575

>Why does the dollar hyperinflate while all the other fiat currencies don't? So they all hyperinflate at the same time?

>Then DXY would stay at the same rate and international trade would continue as usual.

If all the currencies hyperinflate at the same time, it doesn't follow that wages will keep up with them. They don't. If goods and commodities continue to double each year then you are an absolute fool to hold paper instead of gold. That's why Russia now owns more gold than dollars.

Not every currency is going to hyperinflate, only the ones which are backed with U. S. treasuries (dollars) instead of gold. The Asian nations are preparing to return to gold. Russia's currency is already convertible into gold at a 10:1 ratio. All the production is in Asia. When they dump the hyperinflating dollar, they will demand gold for the fruits of their labour, and you will either give it to them or you will get nothing. The dollar system is a system of slavery which has benefitted America and her Western puppet-states and nobody else. Nobody else wants it. .

>>25803446

Debtors have to pay their debts in USD, not gold. Because commodity prices are suppressed on the COMEX, it benefits China to keep collecting debts, and hoarding commodities, for as long as possible, before the USD completely breaks down. China and Russia _could_ issue gold-backed currencies tomorrow, and kill the USD in an instant; they have enough reserves to do so (see picture). They will only reveal them at a time which is most opportune for them. As soon as that moment does come, both the dollar and Bitcoin will almost immediately sink to zero; gold will go 10-15x, and silver will go 30-40x.

>>24292058

10) Russia, China, and the other eastern countries have been accumulating gold to issue gold-backed currencies after the reset, not crypto. They already have enough gold reserves to do this. The eastern countries are where the real production is, so, if they don't take BTC, BTC is good for nothing.

11) Gold-backed currencies in the modern banking system would work with perfect efficiency, whereas no crypto can function as a currency for more than a minuscule fraction of the world population.

12) Money must represent savings, i. e. what is useful for production and industry; otherwise, no country has any reason to take it as an equivalent exchange for their goods and commodities. But crypto stores no intrinsic value. After the reset, then, BTC will go to zero when priced in gold (as Alasdair Macleod says).

13) Crypto has enormous intrinsic disadvantages when compared to gold. If you have gold in a vault, you are protected from the following: Being tortured out of your life-savings within ten minutes; losing them to memory-loss; dementia; a thoughtless mistake when making transactions; a key-logger or other hack; burglary (extremely rare with respect to private vaults); a fire; a hardware failure. BTC also, as I have said, lacks the privacy of gold and silver coins, and is fundamentally unusable as a currency. Whereas digital gold on the Blockchain (Kinesis) or gold-backed currencies in the banking system are perfect as currencies.

(3/3)

>>24275792

10) Russia, China, and the other eastern countries have been accumulating gold to issue gold-backed currencies after the reset, not crypto. They already have enough gold reserves to do this. The eastern countries are where the real production is, so, if they don't take BTC, BTC is good for nothing.

11) Gold-backed currencies in the modern banking system would work with perfect efficiency, whereas no crypto can function as a currency for more than a minuscule fraction of the world population.

12) Money must represent savings, i. e. what is useful for production and industry; otherwise, no country has any reason to take it as an equivalent exchange for their goods and commodities. But crypto stores no intrinsic value. After the reset, then, BTC will go to zero when priced in gold (as Alasdair Macleod says).

13) Crypto has enormous intrinsic disadvantages when compared to gold. If you have gold in a vault, you are protected from the following: Being tortured out of your life-savings within ten minutes; losing them to memory-loss; dementia; a thoughtless mistake when making transactions; a key-logger or other hack; burglary (extremely rare with respect to private vaults); a fire; a hardware failure. BTC also, as I have said, lacks the privacy of gold and silver coins, and is fundamentally unusable as a currency. Whereas digital gold on the Blockchain (Kinesis) or gold-backed currencies in the banking system are perfect as currencies.

(3/3)

>>24275051

10) Russia, China, and the other eastern countries have been accumulating gold to issue gold-backed currencies after the reset, not crypto. They already have enough gold reserves to do this. The eastern countries are where the real production is, so, if they don't take BTC, BTC is good for nothing.

11) Gold-backed currencies in the modern banking system would work with perfect efficiency, whereas no crypto can function as a currency for more than a minuscule fraction of the world population.

12) Money must represent savings, i. e. what is useful for production and industry; otherwise, no country has any reason to take it as an equivalent exchange for their goods and commodities. But crypto stores no intrinsic value. After the reset, then, BTC will go to zero when priced in gold (as Alasdair Macleod says).

13) Crypto has enormous intrinsic disadvantages when compared to gold. If you have gold in a vault, you are protected from the following: Being tortured out of your life-savings within ten minutes; losing them to memory-loss; dementia; a thoughtless mistake when making transactions; a key-logger or other hack; burglary (extremely rare with respect to private vaults); a fire; a hardware failure. BTC also, as I have said, lacks the privacy of gold and silver coins, and is fundamentally unusable as a currency. Whereas digital gold on the Blockchain (Kinesis) or gold-backed currencies in the banking system are perfect as currencies.

(3/3)

>>24229722

Yes. And when I realized that Satoshi was a con-man all along, I started to see the flaws even in his alleged original vision. Having to use Blockstream's second-layer solutions would give rise to a tyrannical nightmare-world where everything is tracked and traced. The BCH people are right about that. But even BCH means increasing centralization, to the point where only a few people control things. So crypto was simply a broken concept from the beginning, a way to split the anti-fiat community, as well as to prepare the world for CBDCs. As I say, crypto simply won't serve any purpose after fiat dies, because Russia, China, and the other productive nations won't take it. They are intending to release gold-backed currencies, and will demand payment in gold.

>>24211600

>the powers that be already decided Bitcoin will be the new standard?

The West will not decide what the new system of money is. When the dollar collapses, the countries which actually produce the things we need and want will decide what we pay them in, and they are going to demand gold. Russia and China can already issue gold-backed currencies, and demanding payment in gold would cause the greatest wealth-transfer in history from West to East. Russia and China, therefore, have nothing to gain from supporting Bitcoin. Bitcoin also stores no intrinsic value; you can't support an economy or fight a war with Bitcoin. But gold and silver represent real savings, which can be used in industry.

>They’re pushing CBDC very hard and BTC falls in line with that

CBDCs are part of the "Second Reset" which I mention in my post here. >>24197075 But as Von Greyerz (and Ron Paul and many others) have said, CBDCs will only impose tyranny on the population for a time, before they inevitably bring about hyperinflation. Then the East will dump the dollar and revert to a gold standard in the Third Reset.

>Literally everyone is on board with crypto now

Nobody is really on board with crypto. The MSM and the bankers are pushing it on people as a distraction from PMs. People wonder how the system went on so long after 2011; cryptos are one of the reasons why. You could buy the annual investable supply of silver six times over with the mcap of Bitcoin alone. Cryptos split the anti-fiat community, imposing hatred and dissension in our ranks, and diverting capital from PMs to nothing-currencies. But it is the inexorable fate of Bitcoin that it _will_ go to zero when the dollar gets dumped, just as Tesla will go to zero. Bitcoin is pumped by tether, Tesla is pumped by Q. E., but neither has the slightest bit of fundamentals to back it. They both depend on the temporary dollarized ponzi-scheme to function.

The bankers created Bitcoin: https://www.youtube.com/watch?v=XfcvX0P1b5g

>>24098660

>China only exists because they have the American consumer market to export to.

I know that this is what Kenyesians say, along with their mainstream media mouth-pieces, but consider for a moment what absolute nonsense this notion is. How is it a benefit for a nation to produce things, and then be forced to sell them for worthless pieces of paper? Answer, it isn't. America has a trade deficit with China. That means that America is consuming more than it produces, and needs China to function. You build a strong economy by production, not consumption, and China is the producer, not America. Decades of high taxes and regulation, resulting from the moral hazard of having a world-reserve-currency printing-press, have caused America's manufacturing-base to disappear. When China dumps the dollar and reveals its 20,000 tons of gold, and demands gold in exchange for its products, America will be left absolutely destitute. There will be the greatest wealth-transfer in the history of the world from West to East, and there will be nothing that America can do about it, because you can't fight a war without a manufacturing-base. It will have no means of imposing the slavery of American paper on China; it will have to submit, and that will be that. I strongly recommend that you listen to this 2001 lecture by Irwin Schiff. It will teach you what the real fundamentals of economics are which are at work.

https://www.youtube.com/watch?v=PldyfV8QBcA&ab_channel=PeterSchiff

>>24095856

Money-supply in comparison to gold-reserves is more important than gold reserves in sum. Russia has kept itself out of debt, and hasn't resorted to printing enormous amounts of currency, so it can back its currency at a 1:10 ratio. The Western countries are unable to do anything like that. See this picture for more information. I tend to believe that the US has little gold left, and I also believe that analysts are right that China has between 20,000-40,000 tons of gold.

>>24028349
>>24029349

>This is a boring one. Obviously it has intrinsic value. If you understand how fiat works, you understand just how important Bitcoin is and that's reflected in the price. Just because you can't hold it in the palm of your hand doesn't mean it doesn't have intrinsic value, obviously.

You haven't explained how Bitcoin does have intrinsic value. At best it might be argued that its intrinsic value consists in its monetary value. But as it can't be used as a currency, and offers far less privacy than gold, I fail to see what that monetary value is. Certainly it has no intrinsically valuable properties to store, which would make its monetary value rather pointless even if it did have it. Are you able to explain to me why Russia and China, after dumping the dollar, will continue to toil away to produce goods and commodities, but demand Bitcoin in exchange for the fruits of their labour? They will demand what really does have intrinsic value--gold. Hence why they are front-running the new monetary system, and hoarding gold as we speak. Russia has already accumulated sufficient reserves to issue a gold-backed ruble. (See picture.)

>Getting easier every day. We've come a long way from paper wallets. ETF's are coming next year. Custodians are becoming more and more secure and at this point simply need time to establish themselves as safe

If you need custodians and ETFs to store Bitcoin, you have defeated its original alleged use-case. "Private" "unconfiscatable" "instantly transmittable." This is what we used to be told. What is left at this point which makes Bitcoin in the least bit desirable, other than the thrill of gambling on the fiat number continuing to go up?

>>24020265

As soon as the Everything Bubble collapses, and Russia and China dump the dollar to adopt gold, all the wealth from every one of the bubbles--bonds, stocks, real estate, cryptocurrencies--will immediately transfer into gold, silver, commodities, and the companies which own them in the ground. So unless you think that 1000 P. E. ratios, 40 bn per annum tether-printing, trillions in Q. E., bailouts, and U. B. I., real negative yields on bonds, can last forever, then gold, silver, commodities, and mining stocks are the only places where you want to be.

>>24020361

When Russia and China dump the dollar and go to gold, it will cause the greatest wealth transfer in history from West to East. Only the West doesn't want gold to come back.

>>23934618

>infinitely divisible

So is gold via gold-backed currencies (which China and Russia are preparing for) as well as allocated cryptocurrencies like Kinesis.

https://www.youtube.com/watch?v=5Q9aYYluRA0

https://www.youtube.com/watch?v=BjqzyqRz_Mc

>decentralized

Gold is truly decentralized. The world supply of BTC is technically concentrated in the hands of the miners, most of whom are in China. BTC is also only "decentralized," even by your standards, if you don't want to use it as a currency. As soon as you want to use it as a currency, you have to go through Blockchain's second-layer solutions which track and trace everything you do.

> value storage

BTC has no intrinsic value, on one hand; on the other, no monetary value, because it's unusable as a currency. So there's no value to store.

> non-confiscatable

Gold in a Swiss vault is perfectly safe. Switzerland wasn't even invaded by Hitler, and has never confiscated gold. Whereas you can lose your keys to memory loss, dementia, a hardware failure, a thoughtless mistake, or torture.

>hard and still-hardening money

BTC isn't money. When fiat dies, gold will become money, not BTC. BTC will be priced in gold and instantly go to zero.

>>23934697

Chinese and Russian accumulation of gold is a fact. Russia officially has sufficient reserves to back the ruble with gold.

>>23860695

>decentralized,
>borderless

Most of BTC's miners are in China. Most people keep their coins on the exchanges. By contrast, if you keep your gold in a Swiss vault you are storing your labour in a country which wasn't invaded even during WW2, upholds the rule of law, and has never confiscated gold.

>trustless

This is of dubious value. It might be trustless, but somebody can torture you for your keys, and therefore for your life's savings within ten minutes. You can lose them to dementia, to memory loss, to hardware malfunctions. That doesn't happen to somebody who stores their gold in an overseas vault.

>store of value

BTC is not a store of value; there's no value to store. Doesn't have the industrial or ornamental uses of gold, nor any of its monetary properties, since it can't be employed as a currency.

>Gold is much more easy to steal than bitcoin in a burglary

Large quantities of gold are kept in vaults, not in houses. It's impossible to keep Bitcoin in a vault. Too easy to steal or hack your keys if you entrust them to an organization.

>>23860964

>you can hodl on an exchange

If your answer to the memory-loss problem is that "you can hodl on an exchange" then this defeats the alleged purpose of Bitcoin, which is to own something which cannot be confiscated and which is decentralized.

>It's not controlled by anyone. Even simple code updates are damn near impossible to implement (which is great IMO).

Yes it is -- BTC is already controlled. The block size has been neutered by Blockstream, which means that you get $100 fees and 3-day transaction times when even 0.01% of the world population attempts to use BTC as a currency. This means that people have to go through Blockchain's second-layer solutions; and these can track and trace everything you do.

>>23842770
>>23842722

To clarify why I say this, BTC, as being a ponzi scheme, will crash when it stops enticing new buyers to buy it. It has no earnings and no use-case, so it must fall without the simple fever of speculation. But at a certain point, people are going to see that NEM (say) is far more likely to go from a $50 billion to a $100 billion mcap than that BTC will go from a $300 billion to a $600 billion mcap; plus NEM has a 13 P. E. ratio, pays excellent dividends, and offers the same alleged protection against inflation that BTC does. Better opportunities will entice people away from the BTC bubble out of necessity once it reaches a certain point, and that point is coming soon. Then it will collapse in upon itself at a rapid pace. The process will be vastly expedited by tether, because tether will collapse once BTC collapses and then cause BTC to collapse even further in its turn. (Deso explains why in the second of these two videos. >>23842603) If by some miracle BTC keeps going until the coming reset happens and the dollar gets dumped, and Russia and China announce new gold-backed currencies, then BTC's value will disappear overnight, because it has no value when priced in gold, only when priced in fiat.

>>23835640

I don't own Pacifico only because it wasn't available on my broker,--otherwise I would,--but BHS, KS and VGLD, as you say, are pretty much the ultimately-leveraged silver stocks in their respective jurisdictions (USA, Canada, Mexico). Because of their low mcaps, they are likely to outperform everything else unless we have a black swan, like a mine collapse, nationalization, a war, crippling regulations, etc. As two thirds of your money is already in them, you might want to choose the larger silver small-caps from now on, like DSV and IPT. (Although obviously all silver stocks will collapse if silver goes down, so nothing is technically "safe.") If you want another speculative investment, buy CCW or (for another jurisdiction) IRV.

>>23835681

The coronavirus hoax and now the election fraud have really taken the mask off the mainstream institutions for good. They have no credibility left. You turn on your television or look at a news website and literally every single word which you read is a disgusting lie. That's one reason why being against the herd doesn't make me doubt myself in investing in silver, because I already have to be against the herd simply to understand reality in this topsy-turvy authoritarian nightmare.

>>23835647

When I say stimulus, I mean both U. B. I. and Q. E. If we only get Q. E., the chink in the armour there is that foreign nations are preparing to dump the dollar. Russia has already accumulated the reserves for a gold-backed currency, and China is widely speculated to have done so in secret. Q. E. causes less consumer-price inflation than U. B. I., but it still destroys confidence in the dollar when they prove that they have to keep printing trillions simply in order to prop the system up, and foreign nations won't stand for that. Civil war may be what starts off the dumping, and it may happen very quickly. austrolib says that we may simply wake up one day and see that the dollar index has collapsed by 10%.

>>23835640

I don't own Pacifico only because it wasn't available on my broker,--otherwise I would,--but BHS, KS and VGLD, as you say, are pretty much the ultimately-leveraged silver stocks in their respective jurisdictions (USA, Canada, Mexico). Because of their low mcaps, they are likely to outperform everything else unless we have a black swan, like a mine collapse, nationalization, a war, crippling regulations, etc. As three thirds of your money is already in them, you might want to choose the larger silver small-caps from now on, like DSV and IPT. (Although obviously all silver stocks will collapse if silver goes down, so nothing is technically "safe.") If you want another speculative investment, get CCW or IRV.

>>23835681

The coronavirus hoax and now the election fraud have really taken the mask off the mainstream institutions for good. They have no credibility left. You turn on your television or look at a news website and literally every single word which you read is a disgusting lie. That's one reason why being against the herd doesn't make me doubt myself in investing in silver, because I already have to be against the herd simply to understand reality in this topsy-turvy authoritarian nightmare.

>>23835647

When I say stimulus, I mean both U. B. I. and Q. E. If we only get Q. E., the chink in the armour there is that foreign nations are preparing to dump the dollar. Russia has already accumulated the reserves for a gold-backed currency, and China is widely speculated to have done so in secret. Q. E. causes less consumer-price inflation than U. B. I., but it still destroys confidence in the dollar when they prove that they have to keep printing trillions simply in order to prop the system up, and foreign nations won't stand for that.

>>23578920

>I read theories that they will even crash gold and silver during the reset so even that will make you lose purchasing power.

Impossible. The Reset = enormous inflation and depreciation of the USD. Russia already has enough gold to back its currency, and China is thought to have secreted away 20,000 tons of gold. Iran, Turkey, and many other countries are also hoarding gold. The non-U.S.-controlled world is preparing to return to gold again. If gold and silver did crash again, it would be a brief nominal paper crash on the COMEX before promptly causing a default there from overwhelming physical demand.